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Hollinger's historic former headquarters sold
Canadian Press
Friday, December 08, 2006
TORONTO — An investment firm is paying $14-million to buy 10 Toronto St., home of the corporate office for Hollinger Inc. and formerly the long time Toronto headquarters for Conrad Black.
Morgan Meighen & Associates, an independent Canadian investment manager with over $1.2 billion under management, said Friday it intends to do restoration work on the distinctive three-storey stone building, which was built in the 1850s.
It was built for the Province of Upper Canada — Ontario before Confederation — as a post office and was later used by the Bank of Canada.
It then became the headquarters for Argus Corp. — which at one time was one of Canada's pre-eminent business conglomerates.
After Lord Black gained control of Argus, he continued to use the building as the base for head-office functions for Argus, Hollinger Inc. and Ravelston Corp. — Canadian companies that were instrumental in controlling what was once one of the world's biggest newspaper empire in terms of circulation.
The property is owned by a subsidiary of Hollinger, which has been selling its real estate assets after Black's departure amid a financial scandal that erupted three years ago.
Hollinger and Morgan Meighen said it expects the transaction to close in May.
© Canadian Press
Canadian Press
Friday, December 08, 2006
TORONTO — An investment firm is paying $14-million to buy 10 Toronto St., home of the corporate office for Hollinger Inc. and formerly the long time Toronto headquarters for Conrad Black.
Morgan Meighen & Associates, an independent Canadian investment manager with over $1.2 billion under management, said Friday it intends to do restoration work on the distinctive three-storey stone building, which was built in the 1850s.
It was built for the Province of Upper Canada — Ontario before Confederation — as a post office and was later used by the Bank of Canada.
It then became the headquarters for Argus Corp. — which at one time was one of Canada's pre-eminent business conglomerates.
After Lord Black gained control of Argus, he continued to use the building as the base for head-office functions for Argus, Hollinger Inc. and Ravelston Corp. — Canadian companies that were instrumental in controlling what was once one of the world's biggest newspaper empire in terms of circulation.
The property is owned by a subsidiary of Hollinger, which has been selling its real estate assets after Black's departure amid a financial scandal that erupted three years ago.
Hollinger and Morgan Meighen said it expects the transaction to close in May.
© Canadian Press